Six simple tips on how to give to your favourite charity in a tax efficient way including cashback and workplace giving
Giving to charity can be highly tax efficient. Here are the main ways to get the taxman to help your favourite cause.
WORKPLACE GIVING Many employers provide a Payroll Giving scheme. This allows employees to donate via automatic deductions from their salary.
If their donations are taken from gross salary a £1 donation costs a basic rate taxpayer only 80p, and just 60p for a higher rate taxpayer.
GIFT AID Donate via gift aid and any sum is boosted by 25 per cent. This is because a charity can reclaim the basic rate of tax, for example 20p on a donation of 80p. Donors must complete a gift aid... read more
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